Howdy
I was away from my computer for a few days.
Regarding pitting, that photo is not the best, and it is difficult to tell. But it does not look like pitting to me, maybe just a little bit of carbon build up in the chambers. I see lots of shiny metal. Pitting is pitting. Tiny holes in the surface of the metal.
This is pitting, and it is pretty severe. This is the bore of a Merwin Hulbert revolver made in the early 1880s. Of course this revolver is over 130 years old, and it was made in the Black Powder era. For what it's worth, the chambers in this revolver are spotless, they look like it just left the factory, but for some reason the bore was not as well cared for, and has pretty severe pitting for its entire length. But the main point I want to make here is even with severe pitting like this, the gun still puts a good spin on a bullet and it is still quite accurate. Notice how the rifling is still strong, despite all the pitting. I have quite a few antique revolvers and rifles, and in my experience, as long as the rifling is still strong and not worn out, they still put a good spin on a lead bullet and are still quite accurate, even with severe pitting like this.
Regarding a reblue to the gun in question, with the limited view of one photo, I see no evidence of a reblue. Regarding the thumbpiece (cylinder release button) they are often a slightly different color than the frame of the revolver. I have a couple of Smiths from the 1970s in hand right now, not refinished guns, they have the original factory finish, and the flat surfaces of the thumbpiece do not have as high a polish as the frame. Given the right angle and lightning, the thumbpieces tend to look different. Sometimes lighter, sometimes darker, depending on the lighting. Again, just a limited view of one side of the revolver, and the focus is not perfect, but I see no sign of the S&W trademark being washed out by over polishing, and there appears to still be plenty of case colors on the hammer. From what I can see, I see no evidence at all of a reblue.
Which gets me to my final point. I never, ever buy guns off the internet. If I can't pick it up in my own hands, and give it a good inspection under good lighting, I don't even consider buying it.
Regarding overall condition, it depends on the make and the model, as well as how much I want it. If the price is good, and the mechanics all work properly, I am happy to buy a firearm that may have some flaws in the finish.
Consider this Triple Lock that I came across last year. Hardly blue left on it anywhere. Notice how worn the checkering is on the grips. But the mechanism and timing were perfect, as well as the chambers and the bore. And the price estimate was the lowest I have ever seen for a Triple Lock. I made sure this one was going to follow me home when I placed my bid.
If you can handle it in person, you have to make a decision if you want the gun enough to put up with some minor flaws in the metal. As I said, it depends on the make, model, rarity, and the asking price. If you want something perfect, make sure you can handle it before you buy.